Fusion CX Ltd has fixed a price band of Rs 275–289 per share for its Rs 702 crore initial public offering (IPO), which will open for subscription on October 14, 2026, and close on October 16, 2026.
The IPO is a book-built issue comprising a fresh issue of 1.73 crore shares worth Rs 500 crore and an offer for sale (OFS) of 69.90 lakh shares aggregating Rs 202 crore.
The allotment for the Fusion CX IPO is expected to be finalised on October 19, 2026. The company's shares are scheduled to list on the BSE and NSE on October 22, 2026.
The IPO has a lot size of 51 shares, requiring a minimum investment of Rs 14,739 for retail investors applying at the upper end of the price band. The floor price of Rs 275 and the cap price of Rs 289 are 275 times and 289 times the face value of the equity shares, respectively.
Based on diluted earnings per share (EPS) for FY26, the company's price-to-earnings (P/E) ratio stands at 20.51 times at the lower end of the price band and 21.55 times at the upper end. Its weighted average return on net worth over the last three financial years was 24.59%.
Nuvama Wealth Management Ltd is the book-running lead manager, while KFin Technologies Ltd is the registrar to the issue.
Fusion CX IPO: Objects of the issue
The company plans to utilise Rs 29.19 crore from the IPO proceeds to repay or prepay, in full or in part, certain outstanding borrowings of the company and its subsidiaries, including select step-down subsidiaries.
Additionally, Rs 7.47 crore will be invested in its step-down subsidiaries, Omind Technologies Inc. and Omind Technologies Private Limited, to upgrade IT tools, including Arya and MindVoice.
Fusion CX Ltd reported a 37% increase in total income to Rs 1,852 crore in FY26 from Rs 1,352 crore in FY25. Profit after tax (PAT) more than doubled, rising 128% to Rs 170 crore from Rs 74 crore in the previous financial year.
Incorporated in 2004, Fusion CX Ltd is a technology-driven customer experience (CX) solutions provider offering multilingual, omnichannel services across voice, chat, email, social media and messaging platforms. Through its technology subsidiary, Omind Technologies, the company develops AI-powered solutions for customer engagement, marketing, quality automation and workforce management. Its service portfolio spans customer acquisition, customer support, collections, retention, technical assistance and digital solutions. The company caters to industries such as telecommunications, banking, financial services and insurance (BFSI), healthcare, retail and technology. As of March 31, 2026, it had 13,357 employees engaged in its CX business operations.
Geographically, the US and Canada contributed 85.26% of revenue, while India accounted for 11.29%. The company has expanded its operations and client base through organic growth and strategic acquisitions. However, customer concentration remains a key consideration, with the top five clients contributing 39.55% of revenue and the top ten accounting for 49.66%.
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